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I understand that the sale must be reported to the irs. However filing instructions for the 1099s state several options of responsible parties to file it, this includes myself. What regulation/law requires it to be the title company? Also on that note while I understand the buyer has the right... View More
answered on Nov 2, 2024
The title company is required to report funds sent to you to the IRS based on your social security number. If you don't give them it, you cannot sell, and you will just have to pay the damages for breaching the contract to the buyer and the brokers. Then, you should ask them for their social... View More
“This offer is fully contingent upon on a formal survey and the buyers being satisfied with the boundaries”.
answered on Oct 29, 2024
It is important to read the clause in the context of the entire document, but if you have a completely discretionary right to satisfaction and you are satisfied, that might be quite useful. Consult counsel licensed in the appropriate jurisdiction and familiar with local contracts and customs, and... View More
His uncle owns property that connects with ours we would like to purchase that property but not sure since the power of attorney. My husband and his uncle are the only remaining people in his family so there are no other heirs.. we do not want the nursing home to make us sell it which is why we... View More
answered on Oct 7, 2024
The question presents potential issues of self-dealing in derogation of fiduciary duties and credit fraud, elder abuse, and even potential Medicaid fraud. But, the funny part is one of the first lessons I learned in practice from my mentor’s mentor: If nobody is going to object, there are many... View More
My mother passed away 10 years ago with no will. She had married a man with children and together they had brought a home. The deed of trust is in both names and listed as tenants by the entireties with the right of survivorship. The husband is now dead. Are ONLY his children entitled to the... View More
answered on Sep 4, 2024
That is some seriously poor estate planning, and it may be worthwhile to sit down with a lawyer to check the deed (not the deed of trust) any other trusts, and whether your step-father had a will. But, if the deed was by entireties and bought during the marriage, it became his house when she died,... View More
uncle is saying all of my deceased dad’s belongings are his
answered on Aug 27, 2024
You need to sit down with a lawyer experienced in Virginia probate law to review the Will, if any, the property deeds, if any, the family tree, and the other assets your father owned. If your father had a wife or children and no Will, his brother is not in his intestate succession. But, if you let... View More
If Brother #2 does not want to buy out Brother #1, what rights does Brother #1 have if he wants to sell?
answered on Jun 13, 2024
Either co-owner of the property can petition the court for sale in lieu of partition as long as the property isn't subject to partition. Partition is mostly an available remedy for farmland. The legal fees for the petition are, under Virginia Code, reimbursed from the proceeds of the sale by... View More
My wife was the POA for her eldest sister who was in a nursing home in Kentucky for 9 months before her death in 2022. Her other sister is the executor. I do not believe that she has settled the estate but there are no assets. Apparently Medicaid must have been denied because we are getting... View More
answered on May 2, 2024
You have no obligation to cooperate or provide any information in response to their demand letters. If they are a "bill collector" under the statute, they must cease contact when you demand that, and they may not continue contact just to harass you. That means that they have no choice but... View More
We owned the house while married nothing was agreed on except he was to live in the house. He left the state and never said a word. Now he sent me a gift of deed to sign over my rights.
answered on Apr 27, 2024
You might consider getting a lawyer to evaluate the whole set of facts. The easy answer is to refuse to sign, but that could be really stupid depending on other facts. Lay all the facts out for a lawyer in a consult. That will be much cheaper than triggering litigation.
There is still some mortgage left. Mom is willing to do this. How do I go about it with least financial consequences?
answered on Mar 31, 2024
The answer with the least legal expense is to sell or gift your mother's half of the house to your wife. There will be transfer taxes, it may be a recognition event as to capital gains, and you will need to refinance. The alternative is to review the mortgage and find out if it has a due on... View More
Are there any Additional License or Certification?
answered on Mar 2, 2024
I'd want to check your licensor and your business plan before rendering any opinion, but property management is one of the things real estate brokers are licensed to do. You don't say you are a broker, however, so you may merely be licensed as a sales person, that is, to be an agent for a... View More
My dad passed and his attorney is now the executor of his estate. This attorney was having private conversations with one of my sisters and not sharing information equally. I told him I'd retained an attorney of my own and now he won't speak to me at all. Said he legally can't speak... View More
answered on Feb 28, 2024
Sometimes, lying is its own reward. The lawyer is not allowed to communicate with a represented client without the permission of the other lawyer. Since you don't have a lawyer, he can't ask for permission. He probably doesn't want to anyway, since he's responsible for keeping... View More
The old owner had a low-budget handyman install a new shower surround and floor pan. It was install very poorly with no support in the walls for the panel seams, no support for the floor pan, and a loose drain. It took about $4k to have the shower disassembled and walls re-studded to handle the... View More
answered on Feb 13, 2024
You need to review the contract with the home inspector very carefully. If you did not negotiate and modify the contract, it insulates the inspector from most if not all claims, and, when it doesn't insulate them, it limits damages to refunding your inspection fee. That will surely be. shock... View More
My mother passed away last year and was living on family owned land that was supposed to be put in her name and never was. The land is part of my grandfathers estate that passed away 1987-88.Now there is a dispute on how much land there is in the estate my grandfather left that was never... View More
answered on Jan 22, 2024
Your alternatives are to get a competent lawyer to review the titles and the estates so you can make a proper claim in this "heir property" case; or, you can bend over and wait to find where the moon don't shine. If you think this is a DIY case, you are making the second choice. The... View More
Home in hyattsville.
answered on Jan 10, 2024
It’s not a majority vote issue. If any owner wants to sell, they can petition for sake in lieu of partition. The attorney fees will be reimbursed from the sale. The only defenses are that the property can be partitioned or the tenant in residence gets the notice given to tenants. Get counsel.
Lot A is owned by property owner #1 and Lot B is owned equally by property owner #1 and #2. If you build homes how should the development cost/profits from sales/shares work out?
answered on Jan 4, 2024
The short answer is "any way you want to." There are many choices. If you make no choices, the Uniform Partnership Act will make them for you, and you may not like its choices. Indeed, it won't be clear whether you have a partnership of the one property or of the two, and the one to... View More
Two sisters inherited a house with a mortgage now one sister wants the other sister to quit claim deed the house. Said sister is also the executor of the estate and is forcing my wife to either pay half the mortgage or quit claim on said house
answered on Dec 5, 2023
It might be easier for you to think of this a different way. If the course was inherited by both sister, each has the right to use the undivided whole, and either has the right to demand that it be sold and the proceeds after paying off the mortgage split. If you cannot reach another agreement,... View More
Property was inherited from deceased parents. Older bro lives in house, gets his mail there and pays all house hold bills from home. The small bro lives elsewhere for years bu shows up and uses his childhoid key to come in house unannounced and uninvited. The last time he did this we called the... View More
answered on Dec 2, 2023
If one brother wishes exclusive use of the house, then he needs to buy the other brother’s half. Merely paying the bills doesn’t change that both brothers own it. Both brothers may use the undivided whole house. I know of no requirement for notice unless there is a lease in place giving... View More
Me he won’t drop him off till 9:30 pm and I disagree but he won’t compromise what can I do ?
answered on Dec 14, 2024
What does your agreement say about time? If nothing about time or "daylight" or similar, then he is right and you are wrong. Either follow the agreement or move to amend it.
Her mother is somewhat unstable and likely bi-polar (opinion) but our oldest daughter left her at 16 and never went back and now our youngest, 13, begs us to not make her go to her house. We have shared custody, half the week with us and half the week with her mother. Her mother has been caught... View More
answered on Nov 18, 2024
I’m not sure what you are asking, but it is obvious that you need to consult with a lawyer who covers child custody and family issues. Seek a lawyer who practices in your judicial circuit.
We closed on a new home mid July. We allowed the sellers to stay in the house until September. Upon moving a piano the movers severely damaged the floors. Estimates that we have received by hardwood floor companies state in order to restore the floor to what it was requires complete replacement.... View More
answered on Nov 15, 2024
Unless you hired the movers, you have no privity with them. Your entire claim is with the Sellers. How much they collect from the movers is their business.
This is one of many, many reasons that most lawyers and title agents don't like leasebacks. If you aren't ready to close,... View More
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